Section 376.2 - Board of Managers of CompSource Oklahoma - Members - Meetings - Powers and Duties - Gratuities - NameA. There is hereby created a Board to be known as the "Board of Managers of CompSource Oklahoma", which shall have supervision over the administration and operation of CompSource Oklahoma, and shall be composed of eight (8) members as follows: 1. The Director of the Office of Management and Enterprise Services or a designee;2. The Lieutenant Governor or a designee;3. The State Auditor and Inspector or a designee;4. One member appointed by the Governor;5. Two members appointed by the Speaker of the House of Representatives, one of whom shall be representative of employers; and6. Two members appointed by the President Pro Tempore of the Senate, one of whom shall be representative of employees. The appointed members of the Board shall serve at the pleasure of the appointing authority.
B. The members of the Board shall elect annually from their number a Chair and a Secretary. The Secretary shall keep true and complete records of all proceedings of the Board. The Board shall meet quarterly, and at all other times when a meeting is called by the Chair, and at such meetings the Board may consider the condition of CompSource Oklahoma and quarterly shall make a detailed examination into the condition of its reserves and investments and at each meeting may examine all other matters relating to the administration of such fund. The time and place of the regular meetings and the manner in which special meetings may be called shall be set forth in the bylaws of the said Fund. Except as otherwise provided in this act or in the bylaws, all actions shall be taken by the affirmative vote of a majority of the Board members present at a meeting, except that no investment policy and no amendment of bylaws shall be valid unless authorized or ratified by the affirmative vote of at least four Board members.C. Appointed members of the Board shall be reimbursed for expenses as provided in the State Travel Reimbursement Act. Said reimbursement, not to exceed thirty (30) days in any calendar year, shall be paid only when the Board is transacting official business. Any reimbursement in excess of thirty (30) days shall be approved by a majority of the Board. The Board shall have access to all records and books of account and shall have power to require the presence or appearance of any officer or employee of CompSource Oklahoma. All information obtained by the members of the Board shall be confidential unless disclosed by order of the Board.D. No person or organization in a position to influence official action of members of the Board of Managers of CompSource Oklahoma, the President and Chief Executive Officer, and the employees of CompSource Oklahoma shall furnish presents, gratuities, transportation, lodging, educational seminars, conferences, meetings, or similar functions to the Board of Managers of CompSource Oklahoma, the President and Chief Executive Officer, and the employees of CompSource Oklahoma other than as provided by law and the rules of the Ethics Commission.E. The official name of the Board of Managers which is known as the "Board of Managers of the State Insurance Fund" shall be designated in all future references as the "Board of Managers of CompSource Oklahoma". Any references in the Oklahoma Statutes to the Board of Managers of the State Insurance Fund shall be deemed references to the Board of Managers of CompSource Oklahoma.Okla. Stat. tit. 85, § 376.2
Renumbered from § 376by Laws 2013 , c. 254, s. 54, eff. 5/13/2013.Amended without change by Laws 2013 , c. 254, s. 53, eff. 1/1/2015.Amended by Laws 2013 , c. 254, s. 44, eff. 8/23/2013.Laws 1937, HB 72, p. 487, §1, emerg. eff. 5/14/1937; Amended by Laws 1939, HB 488, p. 584, §1, emerg. eff. 5/12/1939; Amended by Laws 1979, HB 1504, c. 241, §16, emerg. eff. 7/1/1979; Amended by Laws 1980, SB 638, c. 322, § 35, eff. 1/1/1981; Amended by Laws 1986, HB 1944, c. 207, § 87, emerg. eff. 7/1/1986; Amended by Laws 1986, HB 2035, c. 254, § 1, emerg. eff. 7/1/1986; Amended by Laws 1987, HB 1457, c. 223, §3, emerg. eff. 7/1/1987; Amended by Laws 1989, HB 1505, c. 291, § 6, emerg. eff. 7/1/1989; Amended by Laws 1990, SB 830, c. 283, § 18, eff. 9/1/1990; Amended by Laws 1996, SB 1310, c. 363, §7, eff. 11/1/1996; Amended by Laws 2001 , HB 1718, c. 378, §2, emerg. eff. 7/1/2001; Amended by Laws 2002 , HB 2370, c. 50, §7, eff. 11/1/2002; Renumbered from 85 O.S. §131a by Laws 2011 , SB 878, c. 318, §88; Amended by Laws 2012 , HB 3079, c. 304, §1078.